Amazon Swoops in and Purchases Twitch for $970 Million

After talks surfaced about Google purchasing the self-streaming video gaming site, Twitch, seemingly out of nowhere, Amazon swooped in and purchased the company for a reported $970 million.

Initial rumors were that Google was looking to purchase the company up for a billion dollars. The rumor was never confirmed but one thing was sure - Amazon had real interest in buying the company, enough to pay a sure-fire near-billion dollars.

Twitch is visited by over 55 million users a month and consume over 15 billion minutes of video. Google and Amazon are looking to get their adverts and products onto this audience.

Time will reveal who the actual winner of this battle was, but both companies have the power to turn this transaction into a massive success.

CEO Emmet Shear released a statement after the purchase:

"Letter from the CEO

August 25, 2014

Dear Twitch Community,

It's almost unbelievable that slightly more than 3 years ago, Twitch didn't exist. The moment we launched, we knew we had stumbled across something special. But what followed surprised us as much as anyone else, and the impact it's had on both the community and us has been truly profound.

Your talent, your passion, your dedication to gaming, your memes, your brilliance - these have made Twitch what it is today. Every day, we strive to live up to the standard set by you, the community. We want to create the very best place to share your gaming and life online, and that mission continues to guide us.

Together with you, we've found new ways of connecting developers and publishers with their fans. We've created a whole new kind of career that lets people make a living sharing their love of games. We've brought billions of hours of entertainment, laughter, joy and the occasional ragequit. I think we can all call that a pretty good start.

Today, I'm pleased to announce we've been acquired by Amazon. We chose Amazon because they believe in our community, they share our values and long-term vision, and they want to help us get there faster. We're keeping most everything the same: our office, our employees, our brand, and most importantly our independence. But with Amazon's support we'll have the resources to bring you an even better Twitch.

I personally want to thank you, each and every member of the Twitch community, for what you've created. Thank you for putting your faith in us. Thank you for sticking with us through growing pains and stumbles. Thank you for bringing your very best to us and sharing it with the world. Thank you, from a group of gamers who never dreamed they'd get to help shape the face of the industry that we love so much.

It's dangerous to go alone. On behalf of myself and everyone else at Twitch, thank you for coming with us.

Emmett Shear, CEO"